Options
Paying Way to Much For Sacagawea's
Elemint
Posts: 479 ✭✭✭✭
I was more than surprised when I saw the auction results of PR70 2000 S Sacagawea's on Heritage. I counted 96 sold
with 10 selling at over $1,000 and 30 sold at $150+. The high bid was an unbelievable $3,450. Could it be a combination of ignorance and too much disposable income that lead people to pay so much for a $60 coin or am I
missing something here?
0
Comments
No idea what these are "worth" but that kind of money seems excessive.
Heritage hasn't sold one since 2014, and it appears most of the higher priced ones sold in 2009 or before when the market was hot for them. The last one they sold in 2014 brought $40, which is about what they are worth now.
At your link, when I sort by price, I see 8 above $1,000 (2000-S $1 PCGS PR-70 DCam):
$3,450 2007-06-01 This was apparently the first PCGS PR-70 DCam 2000-S $1 ever sold at Heritage
$2,300 2008-04-18
$2,185 2008-04-08
$2,185 2008-04-18
$1,995 2008-06-27
$1,150 2008-08-25
$1,035 2009-02-22
$1,006 2009-02-24
Looks like a speculative bubble in 2007-2008 that was fading out by August 2008.
The NumisMedia price graph shows the price was still declining, until it settled at $75 in 2015.
Perhaps the PCGS PR-70 DCam population was small in 2007/2008, and expanded since.
Yikes! That's one heck of a bubble and I fear most of that money is gone for good.
There are a lot of stupid people who will pay absurd prices for something of little real or lasting value. Go with what a coin is worth to you, rather than what someone might have paid.
the price drop happens when the population goes from 30 to 762 over a 10 year period - because of the high 'earlier' prices, more were submitted....
I guess I will not open my Mint rolls looking for treasures....
The market has passed me by... 
Cheers, RickO
Disposable income makes most people look stupid.
They are worth a Dollar to me.
edited to add.....I would pay 2 Dollars for the Wounded Eagle in 66.
To me, it's always best to buy coins you really like, rather than coins you think someone else will like.
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't an optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me....
That valuation sounds more realistic to me.
I have bought and sold sacs well over a grand each in the last year ....
None were 70's
If you look at his username they are not your typical sac dollar